Lally & Co. provides the following services for Affluent Families:
Family Office
- Bill paying
- Quarterly tax payments
- Maintain billing files
- Monitor cash flow
- Cash transfers among family
- Charitable contributions
Charitable Trusts
- Private foundations
- Charitable lead trusts
- Charitable remainder trusts
- Contribution strategies via trusts
- Lifetime cash flow planning
- Combining charitable and estate plan
Family Trusts
- Irrevocable life insurance trusts
- Generation skip trusts
- Marital trusts
- QTIP trusts
- Defective grantor trusts
- Distributable net income
- Fiduciary accounting income
- Beneficiary distributions
- Income vs. corpus
Family Limited Partnership
- General partner compensation
- Valuation opinions
- Partnership tax compliance
- Special allocations of income and loss
- Transfer strategies
- Partner capital accounts
- General partner control issues
- Annual cash distributions
- Family meetings
Gift/Estate Planning
- Control issues
- Utilization of trusts
- Sales to defective trusts
- Crummy powers
- Annual gifting program
- Gift tax returns
- Discount valuation strategies
- Insurance strategies and products
Multiple Businesses
- Holding company structure
- S-Corp, C-Corp, LLC, partnership
- Recapitalization strategies
- Mergers and acquisitions
- Transfer of ownership
- Debt covenants
- Simplified ownership matrix
- Multi-state issues
- Exit strategies
Complicated Investments
- Hedge fund reporting
- Passive vs. non-passive
- Single stock concentration
- Leveraged transactions
- Tax basis calculations
- State tax issues
- Prepaid forward contracts
Coordination of Advisors
- Quarterback transactions
- Independent overview of strategy
- Organize the team
- Translate/simplify strategy
- Implementation/follow-through